News


June 21, 2012

MOORHEAD, MINNESOTA McKinley is pleased to announce that theSeventh Judicial District for Clay County, Minnesota,has appointed McKinley as Receiver for EasTen Shopping Center. EasTen is a 125,555 square foot retail center located in Moorhead, Minnesota. The center is approximately 87% occupied and tenants include Cash Wise Foods, Sears, Payless Shoe Source, Fashion Bug and Sherwin Williams.

The addition of EasTen Shopping Center increases McKinleys commercial workout portfolio in Minnesota to 900,000 square feet.

This assignment allows us to leverage our platform and the team that we have built in Minnesota, said Matthew Mason, Managing Director, and we are looking forward to resolving another troubled asset in this community.

We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to create value for all of the stakeholders, added Albert M. Berriz, Chief Executive Officer.

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June 19, 2012

Ann Arbor, MI - McKinley is proud to announce the promotion of Maggie Corbin to Property Manager for JANAF Shopping Yard. JANAF is the largest asset in the McKinley commercial portfolio, and is a destination location for residents of the Hampton Roads communities.

Ms. Corbin inherits responsibility for this key asset from Diane OBrien, who is retiring in September after twenty five years of leading the team at JANAF. Maggie joined the JANAF team in April 2007 and has excelled in multiple roles. She began on the front line as a Tenant Service Coordinator insuring that our tenants had great service, and she was promoted to Property Manager for a number of smaller assets. Most recently, she has served as Property Manager on our Commercial Client Services team leading workouts for our select clientele in Indiana, Kentucky, New Jersey and Virginia. Maggie returns to JANAF to lead this team and to create value for our tenants. Maggie is incredibly familiar with the property and the tenants at JANAF, said Diane OBrien and I am excited to have her leading this team.

"Maggie has been a rising star at McKinley for several years. She lives McKinley's core values and has taken on new assignments with excellent results, stated Thomas Gritter, VP & Managing Director. She is very deserving of this promotion!"

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June 14, 2012

FLINT, MICHIGAN McKinley is pleased to announce that it has been appointed receiver for Kings Lane, a 378 unit apartment community in Flint, Michigan.

McKinley was appointed by the United States District Court, Eastern District of Michigan, Southern Division to protect the asset and to manage the community. McKinley, or its principals, has been named as Receiver over 150 times across 14 states, and this appointment represents McKinleys 50th appointment in Michigan.

We are recognized across the real estate community as a leader in resolving distressed assets, said Kenneth P. Polsinelli, Chief Real Estate Officer, and we are pleased that we are able to use our talents in Michigan in this challenging situation.

We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, stated Albert M. Berriz, Chief Executive Officer.

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June 7, 2012

Ann Arbor, MI - McKinley is proud to announce the promotion of Kelly Gorski to Associate Director of Operations. Kelly joined McKinley in 2005 as a seasonal Leasing Consultant and has learned the business from the ground up. In her most recent role as Community Manager, she lead her team to 7 Gold and 3 Platinum finishes competing with the other communities producing unparalleled results. Kelly has earned this opportunity through a fervent work ethic and a passionate commitment to continuous learning and development. Her commitment is further demonstrated by the increasing responsibility of her assignments over the last seven years.

Kelly has successfully completed assignments far away from her home, traveling to Orlando to lead operations at Monterey Lake & Westwood Suites. Her ability to parachute in to any location and add value immediately is invaluable. She's fearless and has complete mastery of every operational topic, having herself walked in the shoes of a Senior Sales Associate, Customers Service Manager, Maintenance Supervisor and Community Manager throughout her career. There's no facet of this business that she hasn't done personally or that she will shy away from diving right into, stat

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June 7, 2012

JACKSONVILLE, FLORIDA McKinley is pleased to announce the successful disposition of Heritage on the River in Jacksonville, FL. McKinley began managing this 301 unit apartment complex in October, 2009. Under McKinleys management occupancy increased from 70% to over 96%, well above the markets occupancy average.

McKinleys Residential Client Services team worked diligently to stabilize the community by utilizing best practices including our Zero Tolerance Policy, curing significant deferred maintenance and resolving many long-standing problems for the residents of this waterfront community. Over the last 30 months, net operating income was increased significantly resulting in a large recovery for our client.

We appreciated the opportunity to be involved in the repositioning of this asset on behalf of our valued stakeholders, states Albert M. Berriz, Chief Executive Officer of McKinley.

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June 4, 2012

AKRON, OHIOMcKinley is pleased to announce the successful disposition of the Fairway Retail Center in Akron, Ohio. McKinley was appointed Manager of this 11,277 square foot property in 2005. During McKinleys six and a half years of management, they were able to renew all of the tenants multiple times.


This well located retail center comprised approximately 14% of a larger commercial assembly. McKinleys Commercial Client Services team created tremendous value by resolving complicated legal issues, bifurcating the collateral, increasing income and monetizing one component of the real estate to maximize the recovery for our client.


We appreciated the opportunity to be involved in the repositioning of this asset on behalf of our valued stakeholders, states Albert M. Berriz, Chief Executive Officer of McKinley.

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May 30, 2012

ANN ARBOR, MICHIGAN- After signing a lease in July, 2011 and moving into the McKinley Northeast Corporate Office Center, Cole Taylor Mortgage has experienced great success and growth. Their total staff has grown to more than 275 employees. Cole Taylor Mortgage now has 200 staff in Ann Arbor, including nearly 100 added since the move to Ann Arbor. As part of this growth, Cole Taylor Mortgage is in the process of doubling their current office space in Ann Arbor.


"We are thrilled with the success of our move to Ann Arbor and the jobs we are creating locally," said Willie Newman, President of Cole Taylor Mortgage. The primary driver in our expansion of staff has been our ability to grow our mortgage market share and the resultant growth in earnings contribution to Cole Taylor Bank. This has increased substantially during 2012. As part of our efforts to find progressive ways to add staff through leveraging all that the Ann Arbor area has to offer, we recently started an innovative evening shift program. This program primarily targets college students and recent graduates. This program also provides a potential entry into the mortgage banking industry, as well help college students and graduates ease the challenges they face in entering the job market in this economy. Much of the inspiration for the design of this program came from being so close to several great universities in other words, being located in Ann Arbor."


Albert M. Berriz, CEO of McKinley, commented, "We are thrilled with the growth of Cole Taylor Mortgage. Willie Newman is a proven and experienced entrepreneur in the mortgage banking space, and I would expect nothing less from him and his company. Best of all the success of his company also helps the vibrant economy of Ann Arbor.

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May 13, 2012

Ann Arbor, MI McKinley is pleased to announce that Alexandra Jackiw has accepted the position of Managing Director - Residential Client Services effective May 29, 2012. Jackiw is a seasoned multifamily professional and within the past 10 years has built a long term management portfolio of more than 12,000 units with clients including blue chip institutional firms as well as an impressive list of private investors. Jackiw is also the Chair-Elect of the National Apartment Association (NAA), a past president of the NAA Education Institute and a frequent speaker at national conferences. Jackiw will partner with Ken Polsinelli, Director of Real Estate at McKinley to expand the McKinley's long term management and client services portfolio while also assuming responsibility for Midwest Client Services, Southeast Client Services and The Villages of Taylor.

"We are excited to have Alexandra (Alex) join McKinley. Her passion for customer service and the education and development of team members makes her a perfect fit at McKinley," said Ken Polsinelli, Director of Real Estate at McKinley. "Alex shares McKinley's focus on execution and operational excellence and will be a great asset as we expand our platform to continue to meet the needs of our clients and customers."

"I am absolutely thrilled that Alex has joined the McKinley Team, " commented Albert M. Berriz, CEO of McKinley. "Alex is a highly respected and experienced real estate operator and her addition to our team, along with Kristin Berg, who recently joined us after being with Freddie Mac for over 20 years, will allow McKinley to better serve our clients, as well as take our client service platform to a new level of excellence."

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May 8, 2012

Watch this great interview with McKinley CEO Albert M. Berriz as he presents his 2012 market forecast and shares McKinley's strategy for buying distressed assets in tertiary markets. McKinley repositioned Waldengreen Condos in Orlando as Riva Apartments.

Check it out!

http://www.youtube.com/watch?feature=player_embedded&v=6kxGKvrhVb8

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April 29, 2012

Check out this great article about McKinley shaking things up at Baldwin Park Village.


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